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tv   Boom Bust  RT  December 29, 2021 8:30am-9:01am EST

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awful showed that true colors when the pandemic had the most contagious contagion that we've seen in decades. and then you have a mayor who doesn't care. so here's carolyn goodman, offering the lives of the vegas resinous. to be the control group. to the shiny facades conceal a deep indifference to the people. mice could have been saved if they were to take an action. absolutely keep the registering and keep the slot machines. dinging vegas is a money machine, is a huge cash register that is ran by people who don't care about people's lives being lost with well, this is the one business show you can't afford to miss. i'm been swan filling in from atlanta and coming up as the only con, very has torn through the globe,
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the united kingdom is reported its highest coven case out so far in the pandemic. this is goldman sachs has given the i'm a nation, a gleaming forecast for economic recovery. straight ahead. we'll discuss this and the latest revisions to global recovery outlook and later will take you to be airline sector, where the new variance driven math cancellations and staffing issue will talk with an expert in the field to break it all down with a pack show today. so let's dive right in and we begin with the latest on the armstrong variant of covey in what seems like quite frankly, a complete turnaround from what he's been saying for the past few months. president joe biden now says that there is no federal solution to overcoming the corona virus pandemic. and that the solution, it's got to come from the states and from governors block, there is no federal solution. this gets solved, state level, my message, the governors simple. if you need something, say something,
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and we were going to have your back in any way we can now keep in mind, president biden has issued a series of attempted federal mandates and work around using osha. so this new statement that it's up to, governors to take action. once again, certainly new will mean while koby cases in the you have reached a record high of 129471 new cases reported in just a single day on tuesday. that's in england. and in wells, in fact, the data from the n h s. england released on tuesday revealed that the number of patients in the hospital had risen by more than 1000 in the space of a day with more than 9500 beds occupied by people with cobit on tuesday. compared with just over 8400 people. the day before joining the down, the breaks establish hillary for which with the british american business association, hillary great to have you on. thanks for being here. says ben. so obviously we're watching this number of cases a sore here in the united states with omni crime. no question about that we hear
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about new cases every single day. certainly that seems to be the case we just talked about in the u. k as well. what seems to be kind of the general sincere of what needs to be done in order to get on the chrome under control, specifically in the u. k. well, specific in the you can think they've been, they've actually done overall good job on in terms of the vaccination rates because a 92 percent of the population is vaccinated. particularly those over 12 and 8 in 10 adults had their 2nd job and there's plenty for the rest. i think the n h s has done a very efficient job, certainly more efficient than the rest of europe. so on the chrome, i think it's going to be very similar and that is having people vaccinated and what people are talking about is very interesting though boys johnson doesn't talk about this. president biden doesn't talk about it is, you know, the people that do, it's very unfortunate, of course, that they suffer greatly. and those people that the, you know, within the death rates are they don't talk about the co morbidity issues. they don't talk about the coma ability numbers on the co mobility rates a tool. i'm so that the lot of people are immune compromise. they're very sick
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anyway, i'm not talking about also. it is the use of vitamin d and zinc. dr. michael cohen has been conducting extensive studies on this, and he's noticed places like israel, where the code rate is very low, people are affected less of course is a lot more some then, ironically in the u. k. one of the restrictions has been not letting people eat or do anything outdoors, not to go outside when you have coverage when you're diagnosed. whereas vitamin d from the sun, although there's not as much in the u. k. of course, lots of other places is very healthy, so it's a pity been they're not talking about a lot of the positive immune building activities that could go on whether it's nutrition, vitamin d, or think no doctor anthony valgy on monday he called for the banning of unvaccinated people here in the united states, in terms of domestic travel already there's a ban on some international travel, but he said domestically, if you're on vaccinated you shouldn't be allowed to board in our plan. i'm just curious. i was in europe over the summer earlier. this year,
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but i know that the restrictions across europe have become much more strict over the past few weeks and months, especially. what do you see in terms of those covered restrictions getting tighter, especially as we go into the 1st couple of months of 2020, to january, february, march of next year. and do you think that will see kind of an increased ramping up of restrictions? well, i think bend that the writing is on the wall. yes. you're seeing stipulations and regulations in place and across europe in terms of those countries. and it's very different in different countries. those countries that won't even allow people into that country unless they've been vaccinated. and i would say when you look at, and i said the writing on the wall, you look at the trends here, trends usually spread across the world in terms of this and no pun intended, in terms of like the virus spreading. but i do think that you see countries wanting to be in line with those that other countries have implemented. however, look here in the us. we just leave it was yesterday or today that the cdc has now said that instead of a 10 day quarantine, that should only be
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a 5 day quarantine if your diagnosed with it because you've tested positive coded and because of the national disruptions. i think you're also going to see the writings on the wall there. you're going to see nations changing their policies depending on how it's going to affect the actual population and the economic outlook for those different countries. this very different from the you, of course, than it is in the u. k. as you mentioned at the opening, the show of the show, goldman sachs has projected that the u. k. is going to bounce back brilliantly and 2022 with our 4.8 percent growth rate and much stronger than that of most european base. you know, a, goldman sachs report just predicted u. k growth of 4.7 percent over the next 12 months is well above the 3.8 percent, which was already estimated for the united states is outpacing the u. s. it's out pacing other european countries as well when it comes to corona virus recovery. why do you think that is, why didn't the u. k is doing better certainly than other european countries, but even better than the united states, even with cases of on the grounds we mentioned the start here kind of soaring there
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. well, i think then it goes back to what i mentioned earlier. i think it's actually the efficiency of the n h. s. is probably the strongest national one of the strongest, if not the strongest national health care system in the world. and it was a very efficient vaccination process. when i mentioned earlier that 92 percent of the adult pop out of population, those over 12 been vaccinated. that is an astounding number. and it's right at the highest right at the top of the list of any i'm industrialized nation. so i think that's the primary, the primary reason why you're seeing the success, why the bounce back will happen. also, don't forget the u. k took one of the hardest hits at the beginning of the pandemic and of course being an island nation. 95 percent of all products and services have to be shipped in and there was a laurie dreyfus shortage that had he goods vehicles are shortage of drivers early on in the pandemic. that was because usually $35000.00 of qualified each year and that went down to less than $15000.00 during coverage. so there were many reasons
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for this gossley dip in the u. k. in the hit to the g d p. and now i think you're seeing the bounce back, mainly because of vaccines. and because a lot of those shipping and supply chain issues have now been ironed out with the lifting of a lot of restrictions on what was holding back on the new qualifications for hetty goods. vehicle drive us short on time, you're about 45 seconds left. just let me ask you quickly. what is your sense of how europeans are dealing with the ongoing pandemic in terms of a pandemic? that quite frankly, some people would say will depend on it just doesn't want to. and others would say, governments don't want it to in their rather enjoying the new found sense of power that they've given themselves. haven't even been granted during this time. what do you think you get your feeling in general across europe, and is there a significant difference again, pretty quickly here between western europe in eastern europe at this moment. yes, there is of awesome between eastern europe in western europe. you're totally right though about the governments wanting to stay empower you also have to look who has
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benefited follow the money. the pharmaceutical stocks, the fang stocks, facebook, amazon, netflix, on apple, google, microsoft. they have immense lobbying powers and their lobbying, current governments empower governments, want to stay in power. you go to a conservative one. in the u. k. got a left leaning one in the u. s. they want to stay in power. now quickly to answer your question about the east west differences, don't forget, in eastern europe there is a lower population density. there's a lower life expectancy, fewer people, obviously, elderly people. they're the most vulnerable their way, flew a few, a few flights in and out in the beginning of the pandemic. but also they look down quickly and very importantly, one of the reasons they look down and are referred to ion acrobat cross that he's a bulgarian political scientists. and he said, don't forget the eastern europeans were very concerned about the health care systems. not being able to hold up, whereas the u. s. and the u. k. were little bit more cavalier knowing they had good health care systems. so they looked down very quickly in eastern europe because
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they saw what was happening about with the rapids are spread further in the west. so i think that's another difference that you'll see between eastern european western europe hillary for lunch with the british american business association. thank you so much for your insight with time now for a quick break, but when we come back, the i'm the con variant is still weighing heavy on the airline sector. as cancellation to workers, shortages are hitting the travel season. very, very, very hard at this point. so many cancellation over just the past couple of day got much more right after the break with with
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ah, with at the end of every year across stock answer some of your many questions. not surprisingly, many of your questions, concerns politics, the current international situation, and whether we should trust legacy median. we'll do our best to answer as many questions as we can. a lot of became kind of a test bed for medical and then later recreational marijuana and it started with something so innocent. i was wanting to socialize, everybody. does it? so why can't i and then it just keeps going and going and going. i'm just going to do it one. yeah. and then it's, i'm just going to try this one and then you never do it again because they want life 11, and i'm right on inside. ok. and you surround yourself with people who are encouraging
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you to do it not to stop or it felt like my life was over. jumped officers off balcony and died. mm. you just couldn't stop. and we'll get back into the on the chrome variant as we just talked about has been spreading across the world and economists. they are moving to decrease their predictions in order to talk about progress for the global recovery. remember the global recovery that was supposed to take place all of 21 and 22. and now of course, that has been put on hold. in fact, bloomberg is now predicting that the global economy will grow 0.7 percent in the
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4th quarter. that's down slightly from previous predictions of just one percent. and notably, just half of what we saw in the 3rd quarter. but the latest varian that has led to a drastic decrease in hospitalizations, in south africa, where of course on the crime was 1st discovered the rise of new cases and the public response have had an impact worldwide. and it's raising the question of whether or not the global recovery, as it's called, is at risk going into 2022 of them are in the of optimist. l. l. c. octavio. certainly, you know, we talk about these latest predictions, right? we were supposed to see a big recovery, certainly coming along in 2022. that seems to be now on hold. when say you well, i think making these forecasts about where economy is going to go with such precision to say i can get to right down to a 0 point one percent. it has my full cost in these times, a bit of a fools errand. i think i think the best you can do the stage is to simply say
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there's also different scenarios. i don't know what's going on with only con, it might go up, it might go away quickly. i don't know what the federal reserve is going to do exact was monitor policy with a b impact on these things. so i think having one, the single very precise number until your focus for the it is a bit off the market. the 2nd thing the best you can do is just be very, very flexible and right and i'm it and i think is going to change rapidly and don't have too much listed in focus that source well, certainly you know, here in the us we see businesses and restaurants and hotels, they have felt the impact all throughout 20202021. and now they're beginning to feel it again because we're seeing this resurgence not only of the crime, but a resurgence of some of the the locked down from the shut down. and really it depends on what city were talking about, right? because depending on where you are in the country, you're seeing a lot of shut down chicago, washington, d. c, for instance, are seem to be slipping back into a lot of this. whereas other parts of the country are not. now, the cdc has kinda been going through a process. it seems like
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a shortening the quarantine period in order to try to help stave off some of that. if you will, going into this next year. do you expect that we're going to slide back into a shut down mode for a lot of these communities and business communities, or do you think that there are want to be ada patients made in order to kind of prevent us from going back economically to where we were over the last 2 years. i do fear that in a very real way. we are repeating 2020 and it feels very much like that. where the beginning of the stay is now we now have the on the convent. what we've seen happen in europe is the numbers gone through the room from almost any country. you look at the, the case council going up way, way high. and it's not just the temperature short term for them. it seems to be actually finding what entrenched. and it doesn't look like vaccinations of booster shots of done much to really help it. so if you look at come to like denmark, for example, where you see it got the highest infection rate in the world. now, despite the fact that they are very high, the vaccination, honey boosted,
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so seems that the vaccinations and boots are not as effective against mccormick we might have hoped. and so that's not going to be the way out. but i think yes, we're going to see this come to the u. s. the, these things are going to accelerate in the us as well, and seem to be on the uptake as well. and i think we can expect to see some very large numbers. most of it looks like as much of a mile to take, so things might work out of that. but you asked about the cdc's requirements, and some of the quote on jane, and cutting that from 10 years back to 5. that's certainly going to be good economically, so you get those people who production more quickly and they're going to be out of the workforce for a short period of time. but does bring the risk that some people, the margin, were not fully recovered or might still be infectious, but feel better than in fact other so it might have an effect on the infection rates and lead to higher numbers. but i think it's clear we're going to see more of the time and us cities, and we're seeing the new york, i'm going to see it, i think around the country. you know, i told you, i know that we've talked
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a lot about the federal reserve, about fiscal policy and everything that's been taking place for the last couple of years. it was expected that the fed was going to finally start rolling back. some of these pandemic policies that have been put into place in the new year and yet now that we see all that's going on with the talk of the crime and how that might impact not only the economy but it's impacting health policy. do you feel that the fed is still going to make plans to, to pay for all some of these programs, or are they going to, could stay the course at this point? as you said in the past, the market obviously loves the fed intervention. but do you think that intervention is going to come to an end or at least be tapered, or are we just going to go full steam ahead? straight into 2022. well i think what is really interesting because the fed has tape it a bit. so the company that purchases not, not dramatically, not radically, they were buying a $120000000000.00 worth of bonds and they've taken that down a bit. not, not that much. but what has not happened is that the bond markets haven't bugs,
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haven't moved. so if you look at the, the 10 year yield of the 30, the been pretty stable. so the 10 year there's about one point just under 1.5 percent and that hasn't been for years basically exactly some place it was in march this year. so the bond market doesn't seem to really believe the fed will cut back it's purchasing dramatically because if they started to think it was going to happen, well, interest rates will talk to shoot, harper, that would be really bad. the stock market. so it looks like the market is kind of calling the fed bluff and saying, we don't believe you're actually going to do this. you're not going to actually increase and just raise a bon purchases. we really going to carry on going and that's coming very good for markets. i think the fed will season this opportunity to carry on these very easy monetary policies into this year. and they'll say we can't at this stage with part of the economy, shutting down again, look looming with a new variant on the horizon. we can't now take away the support we have to keep going. and i think that's what it's looking for. and that's why with a recent days,
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it is, we've seen new record highs in the market and we haven't seen the yields batch or china is emphasizing the need for stability in 2022. and we know, you know, that they obviously are calling for it. but what exactly that looks like, i don't think anyone's quite sure. it is expected to see more support from the p o . c, the people's bank of china. certainly. how do you see china specifically having an impact, especially when central banks around the world, they're looking to kind of pull back from this monetary support that's been in place. i give you the last working well, it looks like the people's, my good china piece is moving in exactly opposite direction about the central banks around the world. so the european central bank, the fed marketing and all talking about sort of some cut back on the bond purchases, enticing the militia policy, the peoples banker, china, is going the opposite direction. let's say. first of all, earlier this month they said to the banks when to reduce the reserve requirements that pump smaller group in the market by allowing the banks to lend more. so the
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whole, you know, couple $100000000000.00 closing tomorrow that we eventually, it's not a very quick measure. but over time will increase the amount of liquid market and lending of the market. overly, if the banks are able to find people to lend less because the other question and they also cut certain interest rates by very small amounts. so that prime blending rate went down a bit and they re lending facility producers. it isn't straight. so the chinese are in the opposite direction of most other banks as business they were going to pump molecules in the market. and the reason is looking at they basically a crashing real estate sector was a very unhappy investor. and trying to pop up in a way they can. so they were gonna use interest rates are going to probably business. but the changes made of sort of very, very small of a sort of tiny steps. and it looks like they think they can sort of find you in the way out of this and have very accurate mortgage in terms of how these markets work . i think they're gonna have to take course reaction. but the change they've made so far over the course this month, i think are an indication of things to come. they're going to loosen for. so
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they're not going to be satisfied just with very, very small changes and interest rates. they're going have to go further to support the real estate market and make sure that doesn't crash on an emergency of obama. l . c. thanks so much for your insight. thank you. well, the on the on very and has continued to batter the airline industry. no question about that. another 2500 flights were canceled on tuesday with more than 5000 others delayed. and as you probably know, this happened all throughout the weekend and around christmas thousands, the passengers were left stranded. since these mass cancellation 1st began, they began actually on christmas eve, they continued to the holiday weekend. the problems have been felt around the world . and especially right here in the united states where the airlines that were already struggling to keep up are now facing major staffing shortages as sick calls are on the rights to discuss all the latest former in t as be official. jamie finch. jamie, thanks so much for being here. we've talked about the airlines getting ready for
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the holiday season. so what exactly happened here? certainly we saw a mess over the, the christmas holiday. it's continue to the weekend. and now here we are. you know, on tuesday and it seems to be continuing even more. so what's happening? well, obviously there's a lot of things going on. this is not just a covey situation, is just as staff shorted situation. there's been multiple factors that play into this. and some of them even historical. but the main factors that have been going on obviously, is, are the coven situations of people getting sick and, or being exposed, having to go into quarantine for 10 days. now that's been changed in the last, in the last 24 hours to 5 days. but over the weekend before the holidays, that was what was in place. so you have that you have a shortage of aircraft both because they had sold them off or they had put them in storage. and when a plaintiff stored you can't just go, you know, like a cargo and turn the key in up. and it's up and running, you have to go and go the mini mini safety procedures to get the plane back in,
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in serviceable condition. so there's that. and then of course there was the weather . the weather had a big impact on, especially in the northwest. and when those things happen in one region of the country, they start cascading around. you know, certainly there is a dana domino effect. ok, there is no question about that. you get the bad weather, you get some calls coming in from people around the country when they've been sick . and so as, as a result, you have this domino effect for airlines get behind and it's hard to catch back up . as you're saying, however, is there anything the airlines could be doing right now that could remedy some of this at least make it easier, especially when on the chrome cases seem to be rising so quickly. and so many people seem to be coming down with that, that at this point is almost gonna have to be built in at least for the next few weeks into what is still. and as you're saying in the midst of a very busy travel, well, i mean, there's a limited number of things that they can really do with this. i mean the covey.
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where at the apartment crime, we're very much at the mercy of the virus as is spreading. now we all know that it spreads very easily, much easier than the others. but the good news is people are getting sick as much and there's definitely not many just percentage wise as they're happy. and now that's not to say that the unimed actually are getting sicker about. it seems like they've actually and boosted are doing better. now the airlines had been doing requirements for their, for their flight crews, and so forth, board for cope for cobit and they have also been trying successfully. we're one of the companies or one of the industries that was lobbying the cdc to change from 10 days to 5 days, and that will give them a lot of relief. the airlines that is, as well as other industries. and finally, airlines have been actually offering double paid or more to employees that we'd like to pick up the extra shift. so they're trying to do their best, but they're also we had to remember they are there as a transport company,
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but they are also a safety company. and that's one of the things that they have to be very, very careful about. you know, certainly the airlines have been criticized from a government standpoint of over the fact that $54000000000.00 in federal aid was given to them during the pandemic. it's a, it's an enormous sum of money, mostly will kind of wrap their minds around what that looks like. and i think to a lot of consumers, it feels like, where is that money going when you have so many staffing shortages? is that a fair criticism, or is that just people not understanding all the dynamics of play here? i think is a fair criticism to address. i don't think it's a fair criticism of chris or criticism in general because the joke is within the asian industry. the quickest way to become a millionaire is to be a billionaire by an airline. so, i mean, they are not really, historically been very big money makers. and so there there's been a lot of criticism. they had to lay off a lot of people,
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but they're bringing back their tried to bring them back, but a lot of the people that they had been and they've been working for the airlines before. they've moved on it with their lives. they've gone and gotten other jobs, they are doing something else. they change careers, what have you or they went to another airline. and so these things factor in and into the why there's a shortage, but you know, they were trying to survive. and that's, that was the main thing that airlines had to do. or no one's gonna what we're going to have a job for a way to fly around for we're in ts, the official jimmy finch. thanks so much for your insight. thank you. that isn't for us today. thanks so much for watching. be sure you can catch up boom bust on the portable tv app. it's available on smartphones and tablets, a google play, and the apple app store. see about here from on
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a christmas. the traditional yuletide on this traditional with a special christmas guide. me christmas tolerance diversity guide. we all know that christmas is a family holiday. so make sure all your parents are properly member to noon this year. follow the agenda, and make us know wilma instead of snowman. or even better. that this new person designed for themselves. ah, no, it's no don't with your children for the brave new world. i remember diversity is not at all i oh, this is no longer an appropriate cost you this is appropriation,
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zoological appropriation offensive to the dia, community. mm. mm hm. and obviously santa a to be cancelled i because he is a wisest gender male who abuse is mrs. close discriminate against children based on behavior. whereas red, which is a communist color, makes children sit on his lap, makes people destroy trees and exploit sales. so sorry kids center is not coming to town any more. oh, follow these instructions. stick to the spirit of christmas. you decide? 0,
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one of the worst ever mass shootings in america was in las vegas in 2017. the tragedy exploded a little of the real las vegas, where many se elected officials are controlled by casino knows the dank as shooting revealed wet d all vm p d really is. and now it's part of the stand machine. most of the american public barely remembers that it happened that just shows you the power of money and las vegas. the powerful showed that true colors. when the pandemic head, the most contagious contagion, there we've seen in decades and then you have a mayor who doesn't care. so here's care on goodman offering the lives of the vegas resinous. to be the control group. to the shiny facades conceal a deep indifference to the people vice could have been saved if they were to take an action. absolutely, keep the registering and keep the slot machines doing vegas as a money machine is a huge cash register that is ran by people who don't care about people's lives
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being lost. ah, the headlines this are americans, big budget priorities. put the pentagon before the pandemic as president biden signs off on a massive $700000000000.00 defense. the plan washington global vaccination campaign, came running active funds. also the style at gym and politicians call to ban the popular messaging apps. telegram, i think, hate speech conspiracy theory. however, most guy says not double stand this after the gym, and maybe randy on russia the trying thing to say a few years ago and to marry later lambs. a strategy is policy of supporting conflicts to new zealand saying it's causing a surgeon, gang related crimes and demands that australia stops traits in his country like a dumping ground. it is not good enough that new zealand is becoming a penal colony for australia. and.


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